The car dealership I purchased a new car through in January of 2007 really nailed me good by routing me through Drive Financial Services. They managed to get my car payment to a reasonable $400 a month but it was over a 72 month period at an ungodly 14.5% interest rate. I faithfully made payments for the next six months until finally getting smart and deciding to trade the 2006 model in for a 2008 model at another dealership. This time however I dealt with my Credit Union and the interest rate was cut in half. I am actually paying less than $400 a month for a nicer vehicle over a shorter term. Go figure. I will not ever deal with Central Kia again nor will I allow another dealership to ever submit through Drive Financial. It has been nearly two months since the full payment was sent to Drive Financial based on the payoff they reported to my new dealer. I get a statement last week saying I still owe another $23.00. Where did that come from? Drive supplied the payoff and it was good through the month of August. So I was on the phone today trying to get through to Drive Financial. Well I sat on the phone in a lame recording loop for nearly an hour. At 6:04pm the recording stopped and then they disconnected me without so much as a warning or apology. Either their services shut down at 6pm or the helpdesk or service representative didn't feel like taking the call. Either way I'm still trying to reach them to get a faxed copy that shows proof that my loan is paid off. It is required by the Kia dealership to reimburse for unused vehicle WRAP / warrant coverage. I'll probably have to wait until my next Drive Financial statement to show that it is fully paid off or get another surprise of another unknown charge or amount. I recommend to stay away from Drive Financial for car loans.
Pros: Handle High Risk Customers
Cons: High Fees, High Interest Rates and Unknown Charges
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